This story appears in the
March 2000 issue of
Startups.
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When infopreneur Frank Zambaras founded Quickyes.com, he wanted
to take advantage of the fragmented commercial loan application
process and make it easier for smaller companies to find the right
lender. In a few short months, he's done exactly that.
Quickyes
Corp. is an Internet-based company that processes business loan
applications online, then matches them with participating banks and
private lenders using a special search engine. Although they
can't guarantee your application will get the thumbs up, they
do match individuals with lenders most likely to say
"yes," and they do it, as their name suggests, very
quickly.
At the heart of Quickyes.com is a proprietary software engine
that accurately matches applications for small-business financing
with the participating lenders most likely to approve the
transactions: banks, leasing companies, venture capitalists and
private financing companies.
Quickyes accepts applications for financing online, then routes
them through a nationwide network of participating banks and
independent financing companies. There's no charge for applying
online. Quickyes is not a broker or a lender; rather, its
operations are subsidized by its lenders, who pay a fee for
participation in the network.
So how fast is fast? The company claims to be able to process
many applications within 24 hours, and, last September, its online
processing system handled a record 128 applications for business
loans in an eight-hour period.
